Market enters consolidation phase, segmentation track rotation: The on-chain fundamentals behind POL's 50% surge

【Crypto World】After a strong start to the year, the cryptocurrency market has entered a consolidation phase. Bitcoin and Ethereum both declined less than 2% this week, with no significant fluctuations. But a closer look at the holdings leaderboard reveals interesting insights—Polygon’s POL token surged nearly 50%, driven by active on-chain activity, and this increase is quite eye-catching. During the same period, Render and Fetch.ai also performed well, reflecting the market’s continued bullish sentiment towards AI and decentralized computing sectors.

The privacy coin camp shows clear differentiation. Monero experienced an 11% increase, but Zcash didn’t fare as well and saw a sharp drop. What does this indicate? Not all niche sectors can benefit equally from market trends.

Looking back at this week, there’s a phenomenon worth pondering: the performance of tokens is less about overall market sentiment and more about on-chain ecosystem vitality and thematic popularity. Whose network is truly operational, and whose applications are genuinely implemented? The market votes with its feet. This approach is more reliable than chasing hot trends.